Three men, all Chinese nationals, died of suspected smoke inhalation after a fire broke out inside the Lucky Hill coal mine in Abok, near Pantu, about 80 km from Sri Aman.
Reuters reported that Canadian energy firm Prophecy Coal Corporation expects to raise USD 800 million in debt and equity financing by September 2012 to build a coal fired 600 MW power plant in Mongolia and expects to conclude a power purchase agreement with the Mongolian government by May 2012.
Reuters reported that Indonesia, a major global producer of raw materials, has put on hold talks to impose an export tax for coal and base metals, but still expects to introduce the charge later in 2012.
About 100 members of Jaringan Aktivis Alam Sekitar Perak JAASP, an environmental non governmental organization, staged a demonstration against the operation of an iron ore processing company, Vale SA, in Teluk Rubiah, Seri Manjung near here.
Mr Tom Albanese CEO of Rio Tinto as saying that company has shrugged off concerns about a slow down in Chinese demand for commodities, reiterating its faith in the Asian superpower's industrialization.
As Chile is hit by falling ore grades and Peru is hit by delays due to populist agitation, the copper market is pinning a lot on the start of copper production later this year at Rio and Ivanhoe's Oyu Tolgoi mine in southern Mongolia's Gobi desert.
Eike Batista founder of Brazilian energy and commodities conglomerate EBX and head of MPX Energia SA said that the world seaborne coal market could grow to 1.12 billion tonne by 2025, about double its size today.
Anglesey Mining said that its 33% owned associate Labrador Iron Mines has raised CAD 71.6 million to finance the development of its iron ore projects in Canada.
The directors of Legacy Iron Ore Limited announced the appointment of Azure Capital Limited (“Azure”) as corporate adviser. Azure’s role will be to assist with the evaluation and acquisition of key resource projects, with a focus on coal and iron ore.
The Journal Sentinel reported that a group of pro-mining forces will hold a rally at noon on Saturday in Montreal in support of iron mining in Wisconsin.
WSJ reported that Mr Craig Williams is back in Africa with a new mining venture 7 months after steering Zambia-focused copper producer Equinox Minerals to USD 7.3 billion Canadian dollar takeover by Barrick Gold as CEO.
Canadian Business reported that North Arrow Minerals Inc has signed a letter of intent to acquire 100% interest in the El Tesoro project in Chile to help it acquire new copper and gold resources.
